The firm, together with its ultimate holding company, Cahya Mata Sarawak Bhd, were suspended from trading yesterday to facilitate the announcement.
Reports yesterday speculated there could be a capital repayment. However, this could not be confirmed.
On March 7, the Employees Provident Fund (EPF) beat two other suitors – Kuwait Finance House and EON Capital – to buy Utama's 32.4% stake in Rashid Hussain Bhd (RHB).
EPF, which already owns 29% of RHB, agreed to pay RM2.25bil for the stake.
Last Friday, the EPF announced it had obtained approvals from the relevant authorities for the deal. On the same day, the EPF is said to have signed the agreement to buy over Utama's stake. Utama, in turn, is ex- pected to hold a board meeting, after which they will formalise the deal.
Utama was last traded at RM2.57, up nine sen or 3.63% and Cahya Mata was at RM2.09, up five sen or 2.45%.
The contract is for the provision of corrosion prevention services under the Petronas vendor development programme for its Peninsular Malaysia, Sarawak and Sabah operations, it said. – AFX-Asia
Pelikan said its 87.64%-owned unit Pelikan Holding AG had entered into a sale and purchase agreement for the proposed acquisition.
It said German Hardcopy produced hardcopy-related products in Germany and the international market under the Geha, Emtec, Boeder and I-change trademarks. – AFX-Asia
President George Miranda said the association was " thoroughly impressed with the quantity and quality of nominations received."
The nominations covered the full spectrum of the Awards categories, with two categories namely, Cross Border Deal of The Year and Strategic Deal of the Year, attracting the most number of nominations.
Winners will be announced at the Awards dinner to be held at Nikko Hotel, KL, on April 7.
The joint venture was expected to contribute positively to the future earnings of Bina Darulaman, it told Bursa Malaysia. – Bernama
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The firm, together with its ultimate holding company, Cahya Mata Sarawak Bhd, were suspended from trading yesterday to facilitate the announcement.